ICO School 5. — How to participate in ICO?

Before you decide to participate in an ICO, you should do your research, and never invest more than you are willing to lose!

ICO Participation process consists of four steps:

1. Open an Exchange Account

• Assuming that you’re confident after performing your research and want to proceed with participating in the ICO, then you should open a fiat-accepting cryptocurrency exchange account to convert your domestic fiat currency into popular cryptocurrency of Bitcoin (BTC) or Ether (ETH).

2. Open Your Own Wallet to Participate in ICO

• It is absolutely essential that you have your own wallet.
• Your exchange account DOES NOT COUNT as your own wallet, as you do not control their private keys.
• Participating in an ICO requires you to send BTC or ETH from your personal, private wallet. If you send it from an exchange, you WILL NOT get the ICO tokens since the transfer originates from the wallet of the exchange and technically you do not own any wallet in an exchange.

3. Follow the ICO Instructions

• ICOs will most often provide a step-by-step guide to participating in their ICOs.
• You should join their official communication channels such as Slack or Telegram to receive the latest updates and ask questions directly to the developing team.

4. Exchanges to Trade ICO Coins

• If you believe in the tech, then hold the coins for the medium to long-term, or until your price target is hit (e.g. 2x, 3x, 10x of capital).
• If you just want to flip it, then sell it once it reaches an exchange that usually lists an ICO.
• Alternatively, if you’ve missed out on the ICO, you can buy it at an exchange.

The most popular ICOs sell out in matters of seconds and that is why it is important to be prepared the moment an ICO goes live. You should also take into consideration other factors such as the speed of the transactions you send. Whether participation is successful is dependent on how fast the ICO receives an investment. If the transaction is not accepted in time, it will be returned to the address that sent it.

Rules for participating in ICO — example

Dear readers, this is the final article in the school ICO. Hope you had fun learning about Initial Coin Offering with us! Follow us for more useful articles :)